Taxing and Spending
Maybe Stephen Smith (column, Oct. 8) should consult a fellow teacher who specializes in math, instead of grammar.
Obama's "judgment" technique of debate sucked him into a giant black hole of propaganda. Both Reagan's and Bush's tax cuts, rather than "costing" the government coffers, added more money to the treasury. Both of them failed miserably because government spending increased much faster than the increase in revenue.
The "judgment" argument broke down because:
The $18 billion in earmarks took money out of the treasury.
The $300 billion tax cuts added money to the treasury.
And if you think that Obama's tax increases on the "wealthiest" people and corporations will fill the treasury with enough money to spend on his new programs, just look it up in the history books. Those taxes on our fragile economy are the recipe for certain economic disaster.
In the old days, we labeled people like that "tax-and-spend" politicians.
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